Self-Employed
Self-Employed Mortgages
We understand your business cash flow, not just your T1 Generals.
Being your own boss is the Canadian dream, but it can be a nightmare at the bank. Because many business owners use legal write-offs to reduce their taxable income, their traditional "Net Income" doesn't reflect their true ability to pay a mortgage.
Stated Income Programs
We work with lenders who offer "Stated Income" programs. These programs look at your gross business income, your industry standards, and your credit history to form a common-sense view of your financial health.
The Realistic Revenue
An IT consultant in Saskatoon had $150k in revenue but only $40k in taxable income after expenses.
The Result
By using a business-for-self (BFS) program, we used a reasonable industry percentage of his gross revenue for qualification, securing him the home he wanted.